Salt Lake evening Democrat. [volume] (Salt Lake City, Utah) 1885-1887, 1887-03-23
A $4,000 INVESTMENT.
A Cincinnati Man Purchases Real
Estate in This City TO
That Amount.
The Details Not Yet Completed
Why He Didn't Invest
$4,000 More.
Capitalists Complain That They Can
Get No Encouragement From
Certain Residents.

J.K. Gillespie, the real estate man,
Yesterday sold real estate aggregatlng
sic, 900 to a Cincinnati capitalist, who
has been looking about the city for some
time. Though the negotiations are
ended and the bargain entirely agreed
upon, the property has not been decided
over to the new owner, and until
it is, Mr.. Gillespie prefers to
keep the name of the buyer and seller
secret. However, it is sufficient to say
that the purchase consists of three places,
two of which are on South Main street
and the other on First South street. The
details of the transaction will be
completed in a few days and the particu-
lars will be found in The DEMOCRAT.
The gentleman who made this pur-
chase came here with letter of
introduction to several gentlemen
well known in financial circles
here, and it was his full in
intention to invest $4,000 in Salt Lake
real estate, but when he came to make
inquiries he found that he could get no
encouragement. He, however, liked the
city and was not the kind of man to back
down entirely, so he made the purchases
mentioned above in order to identify him
self here, and will hold back the other
$25, 900 for the present.
ANOTHER INSTANCE
OF this Encouragement offered to capital
lists coming here has Just been learned.
A gentleman from Kansas City arrived
here not many days ago with the full
intention of investing $4,000, and upon
looking about the city he decided
that this was the place to put his
money and had almost decided upon the
purchase of certain fine property,
when, as luck would have it, the OBJ
structionists got hold of him and sue
ceeded in driving him out.
In conversation with gentleman who
came here last week for the purpose of
looking into our investment field, q
DEMOCRAT reporter was told that a GER
tain class of non-Mormons here are doing
all in their power to ward off the ap-
preaching boom.
~ came here" said the gentleman,
with a good i'm preston as to the future
of this city. | looked about, drove up
and down your broad streets, and de-
cided thatI could find no better field in
the country for my money. In fact, l
saw big fortune right in my grasp; but,
not to be hasty, decided to consult
some of my new-made friends"
"And what was the result?"
''There was none. They said that So
ciety was unsettled, that any attempt to
boom property here would only put
money into the pockets of the Mormons
and make them stronger, that there was
no telling when the question would
be settled and that there were
already too many Gentiles here,
considering the chance they have. As
result, [ am going elsewhere
to invest, but if it is any satisfaction to
you, can assure you that it is only with
the deepest regret that l leave your beau
tiful town"
Real estate men say that this is the
usual complaint on the part of would-be
investors, and by the selfish croaking of
a few fiends the ardor of the most enthu-
siastic Spectator is cooled.
In spite of this business, however, there
are still more sales on the tapis, and the
oracles say that the boom will come in
spite of everything.